Inland Homes Investors - INL

Inland Homes Investors - INL

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Stock Name Stock Symbol Market Stock Type
Inland Homes Plc INL London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-1.50 -2.8% 52.00 16:35:13
Open Price Low Price High Price Close Price Previous Close
53.50 53.00 53.50 52.00 53.50
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igoe104: In last week's Investors Chronicle on p42 Simon Thompson talking about #INL again and says at 56p it is a 43% discount to EPRA NAV of 97.66p.
tole: brownfield – Inland Homes (LON:INL)This 'capital light' specialist housebuilder, regenerator and 'brownfield' developer has a growing side of its business – asset management.On behalf of investors, it puts together projects and manages them from identifying likely sites through the often-laborious process of getting planning permissions then on to the construction and eventual marketing.It currently has six such projects on hand, with a combined potential of some 3,300 homes.Obviously along the way it comes up against objections from local residents, from local councils and authorities, even from local Mayor's offices.But Inland does its work professionally and stands by its request for permissions. The Borough of Hillingdon sought a Judicial Review to overturn the planning permissions granted in September 2020.However Inland has won through yet again. Over the last twenty years it has achieved a 100% success rate in securing permissions on brownfield sites.On Monday morning the company announced that the High Court had quashed the Hillingdon request – it had tried to put down the project in so many ways, all of which are now firmly closed against the Borough.Stephen Wicks,. the boss of Inland, stated that: "The former Master Brewer site is a brownfield site that has been vacant for 11 years and is exactly the type of scheme where we can make a meaningful contribution to housing delivery in a sustainable way.We are very pleased that this scheme has cleared the final obstacle to its development. This consent has taken over three years to be validated and has been extremely difficult to achieve. It is very disappointing that it should be such a long and torturous process to develop on an allocated brownfield site in a highly sustainable location.The Hillingdon Gardens site is part of our asset management division, where we are seeing increasing demand for our experience and skill in navigating the planning system. This will be an area of primary focus in the coming year and we are excited about the opportunities in this growing area of the business."Upon this piece of news, the group's shares went to 59.9p (within a whisker of my recent price aim), before easing back on much more than double the average dealing volumes.They closed last night at 54p, a bargain price in my view.Hold very tight, the 2021 September year end final results are due within days.
pudsy1: Investors plough record sums into UK build-to-rent properties hTTps://
tole: Homes (LON:INL) – Well I told you 'brownfield' was OK!You may well have missed it – the announcement on Monday that the major property group Land Securities has just pulled off a mega-coup in paying £190m for the U+I Group (LON:UAI).That company was one of my profiled stocks earlier this year (13.01.21 @ 63p set a Target Price of 80p*).So, I am delighted with the LandSec agreed bid of 149p cash almost eleven months later. That is a clear 136% improvement.Why am I mentioning this fact – Well the answer is that it is a player in the 'brownfield' sector and of similar size to my recently featured Inland Homes group, which is also a big 'brownfield' specialist.As I detailed last Friday, its shares are significantly undervalued, begging the question could another property sector 'biggie' also be looking to take it out of the scene?At the start of the week Inland issued a very bullish Trading Update, which helps to highlight further just how undervalued its shares really are at the current levels.Very increased dealing volumes this week – Over six times the average deals were completed on Monday after this group's Trading Update was declared – some 1.34m shares having been traded on the day. They closed up 7.5% at 50p.Then yesterday they edged even higher to 55p, before closing at 53.5p, after some 1.17m shares were traded.The average daily volume is around 200,000.Finals due in two months –The annual results for the year to end September will be announced in January, however Monday's Update spelled out significant progress in the group's strategy to reduce net debt and looking to maximise its land values as it pursues its 'asset light' capital management.It finished the second half of the year very strongly, with demand for its high-quality affordable housing more than doubling in the year from £23.8m to £56.5m in sales.The group's partnership side also did very well, while its order book has increased 56% to £164.7m.Confidence in the current year – With this Update boss Stephen Wicks stated that "The group has made significant progress in delivering its key strategic objectives. Net debt has decreased substantially, and we continue to look for opportunities to deliver value from our considerable landbank."The company continues to see sustained demand from investors, build-to-rent operators, registered providers and private house buyers for its land, the new homes it builds and the group's planning and building expertise.Wicks went on to declare that "We look forward to reporting further progress on our strategic priorities in the year ahead."My View – This group's shares are worth well over twice the current price on its net asset value basis.If a bidder started to stalk the company, whilst its shares are so undervalued, the price response would be swiftly higher than even Panmure Gordon's 119p estimated value.Now at just 53.5p the shares have some very appealing upside, certainly not to be missed.
skinny: Land and build sale to leading housing association. Inland Homes, the brownfield developer and housebuilder focused on building residentially led developments for direct sale or on behalf of partner organisations, today announces the sale, on behalf of the project investors, of 228 plots at the former Homebase site in Walthamstow to the leading housing association Newlon Build Ltd. The sale is for a total consideration of GBP22.5m and generates fees of GBP1.2m for Inland Homes. The Group has separately secured a build contract for Inland Partnerships to construct the 228 homes, adding GBP42.4m to the Group's forward order book for partnership housing and bringing the total number of homes under construction on behalf of third parties to 1,358. The Group acted on behalf of external investors in the land sale. As one of the Group's asset management projects, the project has been funded externally, with the investors benefitting from Inland Homes' expertise and experience in identifying and securing attractive, viable sites and achieving planning consent on these. The capital light nature of this funding model, together with the management fees earned at various milestones of the project, enable the Group to generate attractive and significant returns. Contracts have been exchanged and completed for 72 of the 228 residential plots. Contracts for the remaining 156 plots have been exchanged and will complete in early 2022. The Group is also pleased to announce that contracts have been completed by the project investors for the sale of 173 plots within the same development to London BTR Investment Holdings. This follows the exchange of contracts with the Build to Rent operator for 355 homes in June 2021, for a total consideration of GBP27.5m. Completion of the sale of the remaining 182 plots is expected by September 2022. As previously announced, Inland Partnerships is constructing these 355 private homes in what is its largest partnership housing contract secured to-date at GBP88.9m. Planning consent was achieved for the 583 homes at Walthamstow in April 2021. Following site demolition and preparation works, construction began in September 2021 and build completion is scheduled for 2025. The project is one of six currently within the Group's asset management division which together have the potential for more than 3,275 new homes. Chief Executive Stephen Wicks commented: "The sale of 228 plots at Walthamstow to a leading housing association, together with the build contract for Inland Partnerships to deliver these homes, further endorses the Inland Homes business model. Inland is once again demonstrating its ability to add value at all stages of a project: from identifying the right site and obtaining planning permission on behalf of investors to having the expertise needed to deliver homes on behalf of one of the country's leading housing associations. Transactions like these are helping Inland to deliver against its key strategic priorities: reducing our net debt, maximising the value of our land bank, growing the capital light asset management business and delivering homes which meet the market's needs in the most cost-effective way. We look forward to working with both Newlon and London BTR Investment Holdings to deliver this exciting inner-city regeneration project."
mrnumpty: Because Inland were tipped two of three years ago by Simon Thompson , the shares tipster of Investors’ Chronicle , I acquired a holding here . It wasn’t enough to be a core holding , but it was a fair amount of money . I can’t remember if I made or lost money with Inland , but I sold and moved on a couple of years ago . Although Simon Thompson does sometimes make some good “ buy “ tips , I’m not at all impressed by him and so I’ve just cancelled my subscription to IC . However , as I have just received this week’s copy , I was pretty horrified to see that the shares of Inland are slightly less than two years ago . Although the current price might well be a good entry point , money needs to work , not remain still or even decline for two years , and one would have been far better off in putting one’s money in even a half-decent pooled investment fund ( unit trust or investment trust ) . I’m afraid that it seems to me that there are too many disappointments in the IC tips , and I shan’t return to IC . Im sorry for anyone here who’s seen their money doing nothing or even losing money . A more positive thought - although it’s not infallible , my personal feeling us that Small Company Share Watch is much more successful , especially the shares in its “ Growth Portfolio 3 “ . I’ve also just taken out a subscription to its sister production “ The Momentum Investor “ . Good luck all and do your own research .
sphere25: No problem solarno. Nibbled a few here. Noticed the market makers are shifting higher. That is on all those big sells recently as well as a small batch of private investors lobbing yesterday too so that just tells us that there are large buyers in the market at that 58p and some market participants have noticed it with a few buys yesterday and today. Again, hard to say if this movement on the back of these sells being mopped up is going to be the big breakout one, but it just makes it more interesting when such demand for shares comes in. All imo DYOR
davebowler: Investors Chronicle - ....In addition, income from land sales and current construction work should drive a reduction in net debt, too, as well as supporting a recovery in profits. In fact, house broker Panmure Gordon predicts free cash flow of £54m will reduce net debt to £98m in the 12 months to 30 September 2021 and pencils in a sharp recovery in pre-tax profits from £3.7m to £13.4m on 25 per cent higher revenue of £125m. On this basis, the shares are priced on a forward PE ratio of 11.5.
spud: For those that have not seen the update:Hillingdon Gardens site updateInland Homes plc, the leading brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England, is pleased to confirm that the planning application for Hillingdon Gardens at the former Master Brewer site will not be called in by the Secretary of State for Housing, Communities and Local Government.The site has been the subject of third-party requests to call in for determination by the Secretary of State but it has been decided that the application for 514 homes can be determined at a local level by the Greater London Authority. The site was approved by the Mayor of London in September 2020 and will now be subject to signing of a Section 106 agreement.The plans for Hillingdon Gardens will transform a derelict former commercial site, creating a residentially led, mixed-use neighbourhood, with a network of pedestrianised areas, landscaped public squares and extensive green spaces. The project will deliver 182 (35%) new genuinely affordable homes alongside significant contributions towards local infrastructure improvements and biodiversity.The Hillingdon Gardens scheme is part of Inland Home's asset management division. This is a high-growth arm of the Group and generates substantial service revenues with significantly reduced investment and capital consumption. The Group secures sites on behalf of investors and uses its extensive land and planning expertise to secure planning approval on their behalf. As 'capital light' activities, these schemes can generate attractive returns.The Group is currently managing six asset management projects on behalf of investors, which combined have the potential for 3,181 homes.Stephen Wicks, CEO of Inland Homes, commented:"The former Master Brewers site is a brownfield site that has been vacant for 11 years and is exactly the type of scheme where we can make a meaningful contribution to housing delivery in a sustainable way."We are pleased that the scheme has not been called in by the Secretary of State. We can now actively progress delivering the scheme, which is supportive of the Government's housebuilding agenda, delivering much needed affordable homes and revitalising a vacant site."The Hillingdon Gardens site is part of our asset management division, where we are seeing increasing demand for our experience and skill in navigating the planning system. This will be an area of primary focus in the coming year and we are excited about the opportunities in this growing area of the business."spud
spud: Inland Homes PLC Development of the Cavalry Barracks, HounslowSource: UK Regulatory (RNS & others)TIDMINLRNS Number : 8228WInland Homes PLC21 August 202021 August 2020Inland Homes plc("Inland Homes", "Group" or "Company")Asset management division to develop the Cavalry Barracks, HounslowInland Homes plc, the leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south-east of England, today announces that its asset management division has entered into agreements relating to the acquisition and development of one of the largest brownfield sites in London, the 36.7 acre Cavalry Barracks in Hounslow West London.As set out in the Company's report and accounts, a growing part of the Group's business involves procuring sites on behalf of, and providing planning and management services to, investors in the property sector. The Group typically enters into a planning and management services agreement with the investors which includes procuring the opportunity to acquire brownfield land, adding value by managing the planning process and proposing a disposal plan for the consented site. This activity enables Inland Homes to earn substantial fees with a significantly reduced investment.Using this model, the site is being acquired from the Defence Infrastructure Organisation (DIO) who manage the assets of the Ministry of Defence (MOD) with completion being subject to vacant possession and anticipated to be in August 2021. Inland Homes expects to make a planning application for a residentially led mixed use scheme of over 1,000 homes within the next six months. The Group will manage the planning and development process on behalf of the equity investors on this project and will be entitled to receive a significant share of the development profit from this high profile opportunity.The project will have an anticipated GDV in the region of GBP600m. It is currently the home of the Irish Guards who are relocating to Aldershot. The site comprises over 37 acres of land and includes 14 Grade II listed buildings and 19 locally listed buildings together with over 439 existing residential accommodation units.The entire site is allocated for a major mixed-use development via a development brief adopted by the London Borough of Hounslow.Commenting on the transaction, Inland Chief Executive said:"This is our fifth MOD transaction and the largest to date. We have an excellent track record in the early delivery of homes on sites such as this, a significant proportion of which will be affordable, which is particularly important in London Boroughs like Hounslow.Our asset management division now has six live projects in London which have the potential for over 2,700 homes together with employment opportunities. These are:Walthamstow 583 unitsBarking 405 unitsHillingdon 514 unitsStaines 210 unitsHounslow in excess of1,000 unitsIt is a testament to our long and successful track record in Brownfield development that our investors have the confidence to commit significant sums to these projects, particularly in the current challenging economic climate."Barney Hillsdon, Principal at Avison Young who acted on behalf of the DIO added:"This is a fantastic result for both the DIO and Inland during a very difficult time in the market. The site will deliver much needed private and affordable homes for London and will offer a diverse range of product to the market due to the retained heritage buildings on the site".spud
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